equities
August in Figures
August 31, 2019
The most discussed financial market development of August is actually not depicted in the standard month in figures table below, and that was the inversion of the U.S. yield curve, which has been a pretty reliable leading indicator of a recession beginning 18-24 months later. Between the end of July and August 30th, the U.S. […] More
June and the Second Quarter in Figures
June 28, 2019
Although the major central banks did not change their key short-term interest rates in the second quarter, global disinflation and decelerating economic growth depressed expected inflation and fanned speculation that monetary policies will be eased later in 2019. This in turn put downward pressure on long-term interest rates but incentivized share prices to climb. President […] More
May 2019 in Figures
June 1, 2019
The month of May exemplified the global interdependence national financial markets, and the unifying force was rising risk aversion. Whereas equities had climbed broadly in April, all the ones shown below dropped just about as sharply in May. Likewise, climbing 10-year sovereign debt yields in April were reversed last month, and except in the case […] More
April in Figures
May 1, 2019
The first-quarter rebound in share prices continued in April at pretty much the same pace of climb but with British stocks lagging somewhat. Central bank interest rates were not changed during the month in the U.S., Euroland, Great Britain, Japan, or Switzerland. U.S. President Trump sustained his tweeting campaign, urging the Fed to cut rates […] More
July in Figures
July 31, 2018
Net dollar movement against currencies in other well-developed economies was modest in July, but the U.S. currency extended gains against developing country monies. The rise in long-term U.S. interest rates pulled up other sovereign debt yields, blunting the impact on rate differentials. The Bank of Canada was the only central bank examined for this update […] More
May in Figures
May 31, 2018
The dollar rose over 3% in May against the euro and sterling and by about 1% against the yuan and Canadian dollar but slipped fractionally relative to the yen, loonie and Australian dollar. Ten-year sovereign debt yields had risen in April but declined in May. Share prices rose in the U.K., Canada and United States, […] More
Weaker-than-Expected Chinese Data and a Rise in Oil Prices
May 16, 2016
In April, Chinese M2 money grew 12.8% on year, down from 13.4% in March and a recent high of 14.1% in January. The 12-month increase in industrial production and retail sales slowed to 6.0% and 10.1% from 6.8% and 10.5% in March. Fixed asset investment in the first four months of 2016 was 10.5% greater […] More
April 2016 in Figures
April 30, 2016
The dominant market themes in March had been strong oil and equities, dollar and yen weakness, and modest sovereign debt yield increases. In April, West Texas Intermediate crude oil extended March’s 13.6% advance with a further leap of 19.8%, but yen strength was the big currency market story. Ten-year sovereign debt yields rose except for […] More
Intensifying Risk Aversion
January 20, 2016
Share prices closed down 4.1% in Hong Kong, 3.7% (or 632 points) in Japan, 3.0% in Singapore, 2.3% in South Korea, 2.0% in Taiwan, 1.7% in India, 1.5% in China, 1.4% in Indonesia and 1.3% in Australia. Equity declines today in Europe so far amount to 6.8% in Greece, 3.2% in France, 3.1% in Switzerland, […] More
Ugly Day for Stocks
September 22, 2015
Equities in Europe have plunged 3.1% in France, 2.8% in Germany, Italy, Spain and Switzerland and 2.1% in Britain. U.S. futures point to a debacle here, too. VW shares continued to implode. Stocks in Asia had been more mixed, with Japan still closed for the second of three straight days in a bridge between Respect […] More
